Bitcoin spent the week caught between a hawkish Fed and a debate over whether it still functions as an inflation hedge.
The bearish case dominated the tape. Several analysts argued the "dollar debasement trade" is unwinding as the Fed signals further tightening and recommits to price stability, weakening the rationale for holding BTC alongside gold. Chart-focused research pointed to persistent lower highs and lower lows, framing recent strength as a short-covering bounce and flagging $59,000 as the next test — with $37,000 in play if it breaks. A separate critique tied caution to MicroStrategy's leverage profile and the opportunity cost versus AI and data-center capex, where productive returns look more compelling.
The bullish counter was equally vocal. One thread called the $60,000–$61,000 zone a generational entry near the 200-week moving average, with long-horizon targets cited in research ranging from $250,000 to as high as $500,000. Another argued sticky inflation is a new regime — ultimately constructive for non-sovereign hedges like BTC.